Press Release
Jul 16, 2009 17:10 ET
Kilo Strengthens Management Ahead of Accelerating Exploration
TORONTO, ONTARIO--(Marketwire - July 16, 2009) - Kilo Goldmines Ltd. (TSX VENTURE:KGL) ("Kilo" or the Company) is pleased announce a strengthened management team in preparation for a significant increase in corporate and exploration activity. The Company is well advanced on its exploration program at its core gold project in the Democratic Republic of the Congo (DRC).
The Board of Directors has recently appointed Klaus Eckhof President and CEO of the Company and Peter Hooper has been appointed Executive Chairman. This change aligns management skills and experience with the expected development of the company's future growth. Peter will continue to manage much of the day to day operations of the company from the Toronto office. Klaus will play a key role in leading our corporate growth and decision making on the exploration programs overall focus.
Klaus Eckhof is a geologist with 20 years experience developing mineral deposits throughout Africa, South America, Asia, Australia and Russia. Mr. Eckhof worked for Mt Edon Goldmines as the business development manager before it was acquired by Teck Corporation. In 1994, he founded Spinifex Gold and Lafayette Mining; both successfully delineated gold and base metals. In late 2003 Mr. Eckhof founded Moto Goldmines which acquired the Moto Gold project in the Democratic Republic of Congo where he and his team delineated over 20 million ounces and delivered a feasibility study within 4 years from commencement of exploration.
"I am very excited to once again head up an exploration company with the kind of potential that exists in the eastern DRC. Given Moto's success in this vast underexplored region, I believe that Kilo's concessions also hold great promise and it is a very stimulating time to be undertaking our first phase of exploration" stated Klaus Eckhof. "I am certain that new discoveries can and will be made".
"I want to welcome Klaus to his new position at Kilo - and on behalf of all shareholders, I look forward to his vision and energy in leading Kilo's growth in the coming year" stated Peter Hooper.
Kilo Drilling Update
The company is currently evaluating active artisanal gold workings on Permis de Recherche in Orientale Province of the Democratic Republic of Congo with two diamond drills. About 1,700 metres of a planned minimum of 6,000 metres has been completed to date. Analytical results are anticipated in several months and they will be announced as they become available.
About the Kilo-Moto Gold Belt
Kilo has over 14,000 square kilometers of claimed property mainly (95% owned) in the Orientale province of the (DRC). The Archaean Congo Craton has two major gold belts; the Kilo-Moto gold belt in Oriental province in the northeast and the Twangiza-Namoya gold belt in Kivi province, in the east of the country. Recent gold exploration has also focused on Katanga province in the southeast. The Kilo-Moto granite-greenstone belt represents a significant opportunity as it is the last large greenstone belt in the world to be looked at through the lens of modern exploration techniques.
Kilo also has significant iron ore interests and recently finalized a deal whereby Rio Tinto was granted an option to earn into a joint exploration programme. Rio Tinto has made important procurements in establishing infrastructure in preparation for an increased exploration effort.
About Kilo Goldmines Ltd.
Kilo is a Canadian-based exploration company focused on gold exploration in North Kivu and Oriental Provinces of the DRC. The company is focused on adding shareholder value through exploration success. Kilo also supports local social programs and operates in a manner that respects the environment.
ON BEHALF OF THE BOARD OF DIRECTORS
Kilo Goldmines Ltd.
PETER HOOPER, CHAIRMAN
KLAUS EKHOF, PRESIDENT AND CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact:
Kilo Goldmines Ltd.Investor Relations
(416) 360-3415
[email protected]
www.kilogoldmines.com
